MBK Homes Expands Portfolio Under New VP of Residential Land Acquisition

VENICE, CA, May 31, 2013 (Press-News.org) MBK Homes, the leading builder recognized consistently by homebuyers for exceptional purchase and ownership experience through the Eliant national survey systems, is expanding its reach in the Southern California market, having recently increased its land holdings under the new leadership of Matt Hamilton, Vice President of Residential Land Acquisition. These key purchases have grown MBK's portfolio in Orange and Los Angeles counties, with three new home communities soon to debut.

With the support and financial backing of MBK Real Estate Ltd., the U.S. real estate development arm of Mitsui & Co., Ltd., one of the world's largest corporations, the acquisitions reflect MBK Homes' recent growth strategy put in place to meet the uptick in demand that is occurring as market conditions continue to improve. The combined factors of limited land availability, a steadily growing population, and the recent downturn have created a pent-up need for housing, spurring MBK to put renewed focus on expansion.

"Since being given the green light to buy land, Matt has acquired three excellent properties in quick succession, expanding MBK's land portfolio: Sea House, Jacaranda and Vineland Metro," said Tim Kane, President of MBK Homes. "Over the last seven and a half years at MBK, Matt has demonstrated incredible competency in all of his undertakings. I am pleased to announce his promotion to Vice President of Residential Land Acquisition for MBK Homes."

With an impressive background that encompasses more than 14 years in the real estate industry, Hamilton brings formidable insight and extensive experience to the position. Hamilton began his career at Opus West in Irvine, where he served in a project management capacity. Hamilton joined MBK Homes in October 2005, where he first held the position of Project Manager in the Community Development department and was later promoted to Senior Project Manager. Last year, Matt was named Director of Land Acquisition, a title he held until his recent promotion to Vice President of Residential Land Acquisition.

Hamilton received a Bachelor of Science Degree from Iowa State University and went on to earn his Master of Business Administration Degree at Pepperdine University in 2008 while at MBK. A Licensed Professional Civil Engineer, he became both a LEED for Homes Accredited Professional and a Qualified SWPPPs Developer and Practitioner (QSD/QSP) in 2011. In addition to his professional accomplishments, Hamilton served as a volunteer Big Brother from 2000 to 2009 with Big Brothers/ Big Sisters of Orange County.

The three recent acquisitions that Hamilton orchestrated will all open as single-family home communities.

The largest of the three communities is Jacaranda, which offers 45 detached homes in two-story designs ranging from approximately 1,605 to 1,852 square feet. Five versatile floor plans are available, with some homes including up to four bedrooms. All residences feature classic Spanish architecture and include two and one-half baths and two-car attached garages. Located in Stanton, Northwest Orange County, the community is close to major employment centers, recreational destinations, shopping, dining and more.

Also soon to open in Orange County is Sea House, a contemporary collection of 33 detached homes in the heart of Costa Mesa, near top shopping, dining and entertainment destinations. These three-story residences feature rooftop decks and open floor plans encompassing 1,587 to 1,785 square feet. The homes include two full and two half baths, two-car attached garages and up to three bedrooms.

Meanwhile, Vineland Metro is rising near the charming NoHo Arts District of Los Angeles. This intimate community in North Hollywood features 27 homes, which range from approximately 1,628 to 1,920 square feet and include two-car attached garages, up to three bathrooms and up to four bedrooms.

In addition to Jacaranda, Sea House and Vineland Metro projects, MBK has also increased its portfolio with another new home townhome community in Signal Hill that recently opened and a multifamily apartment complex whose construction will begin in Northern San Diego later this year.

Newly unveiled in Signal Hill, the gated community of Aragon is comprised of 81 solar-powered townhomes that feature classic Spanish-inspired architecture, private decks and beautifully appointed interiors perfect for entertaining. Encompassing 1,189 to 1,879 square feet, the three-story townhomes include two and one-half baths, up to three bedrooms and up to three-car garages. In addition to solar power, other eco-friendly features at this Energy Star and Build It Green certified community include dual-glazed vinyl windows, energy efficient tankless water heaters and water-conserving toilets.

MBK is slated to begin construction on its multifamily rental community by year's end. The site of the 100-unit development is located in the San Diego County.

About MBK Homes
MBK Homes is active in the development of for-sale single- and multi-family housing communities, rental housing, apartment property acquisition, and distressed asset renovation. Through its various housing solutions, MBK Homes' mission is to provide top quality shelter to residents in California. Throughout its nearly 20 years, MBK Homes has earned a reputation for delivering award winning customer satisfaction in housing that is innovative in design, comfort, sustainability and craftsmanship, all at an excellent value.

MBK Homes is a division of MBK Real Estate Ltd., the U.S. real estate development arm of Mitsui & Co., Ltd., one of the world's largest corporations. MBK Real Estate's companies span a wide spectrum of real estate development, including homebuilding, retail and senior housing divisions.

MBK Homes is headquartered in Irvine, California. Corporate offices are located at 4 Park Plaza Suite 1000, Irvine, CA 92614; phone (949) 789-8300; fax (949) 789-9300; or visit the website at http://www.mbkhomes.com.